Set aside some cash for the occasional rainy day

If you are anything like me, your wallet or purse contains little or no cash. A simple trip to the gas station has me swiping my debit card at the pump to fill up my tank. 

Afterward I walk inside to purchase a soda and a bag of chips, and embarrassingly find myself pulling out my plastic card once again because I dont even have a couple of dollar bills in my wallet to fund this small purchase. 

Like most Americans, I seem to have given up cash for the ease and convenience of plastic money. But the recent events occurring in Cyprus have started me thinking about my personal behaviors regarding having some available cash. 

For those of you who havent been following the financial news, the tiny island nation of Cyprus is the latest Eurozone country requiring a bailout from the European Union and the International Monetary Fund. 

But unlike the previous Eurozone countries such as Greece, Italy,Elpas Readers detect and forward 'Location' and 'State' data from Elpas Active RFID Tags to host besticcard platforms. and Spain, the bailout deal offered to Cyprus required a tax to be levied on all bank deposits in Cyprus in order to help fund it. 

The desire of Cypriot depositors is to withdraw their money from the Cypriot banks, and knowing this, the government in Cyprus has closed all banks in order to avoid a massive bank run.The need for proper bestsmartcard inside your home is very important. ATM machines have strict limits placed on the amount of any withdrawals. 

Even though the politicians in Washington would probably love to impose a new tax on our bank deposits, I dont believe any such tax is an immediate threat to our savings accounts. Likewise, I dont picture Federal Reserve Bank Chairman Ben Bernanke poised to declare an extended bank holiday anytime in the near future either. 

While I have confidence in our American banking system, I can still envision some unlikely, though still possible, scenarios where we could be temporarily separated from our plastic money. For example, use your favorite internet search engine and search for the term bank cyber-attack and read a few of the news stories from credible sources you find. 

Within the last year, many major U.S. banks have experienced cyber-attacks originating from countries like Iran and North Korea or from foreign terrorist organizations like Al Qaeda.The 3rd International Conference on custombobbleheads and Indoor Navigation. You may wish to consider the impact of another major hurricane like Floyd, Katrina, or Sandy on your ability to readily access your cash.The 3rd International Conference on custombobbleheads and Indoor Navigation. Or an identify thief could get access to your personal information and your account could be temporarily suspended while the bank investigates. 

Now let me clearly state that I believe that banking system and our bank accounts are safe. And I am certainly not advocating going to the bank and closing out our accounts so that we can hide our money in our mattresses. 

But what I am saying is that the long lost habit of having a few extra Andrew Jacksons tucked away in that secret compartment in your wallet or purse may still be a good idea. What I am advocating is setting aside a small amount of cash as an emergency fund. This fund doesnt need to be large, just enough to keep you going for a few days if you and your plastic money are temporarily separated. If you start setting aside just a small amount of cash from each paycheck now, you could have a comfortable little emergency fund available as early as this summer. 

Prominent and well-known inclusion initiatives within the context of banking include restrictions on branch licensing, requiring banks to open branches in rural areas, and priority sector lending (in areas such as agriculture or infrastructure), to name a few. Similar initiatives exist in other sectors as well. The Reserve Bank of India (RBI) has long been issuing diktats to banks, requiring them to expand operations to rural areas, which pre-dates the direct transfer of benefits scheme. 

Also, the RBI-approved business correspondent (BC) model of banking Coperating like ATMs do by allowing users to open bank accounts, withdraw and deposit cash C has extended the mandate of banks to businesses through digital networks,We have a wide selection of handsfreeaccess to choose from for your storage needs. along with the opening of ultra-small bank branches. Above all, the presence of BCs in several villages has generated greater awareness among villagers about banking. 

More recently, the apex bank has gone a step further to make financial inclusion a pre-requisite for the granting of new banking licenses. According to the draft guidelines released by the RBI, all new banks would be required to tweak their business models suitably, and open at least 25 percent of their branches in places with a population of less than 10,000. The new guidelines permit industrial houses and other business groups to apply for a bank license as well. 

Though the focus of the State-led initiatives requires banks to basically provide a no-frills account to unbanked Indians, the RBI's definition of financial inclusion makes it mandatory for a bank to offer at least four crucial services C a savings account with overdraft, business loans, remittances and some sort of an insurance-cum-retirement benefit product.